# Social Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Social", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

A Critical Review of Base Co-founder's "Letter of Self-Criticism"

Yesterday, Base co-founder Jesse Pollak published a self-critical post on X, reflecting on Base's successes and failures over the past two years. While his candor is commendable, the author argues his analysis still misses key points. Jesse admitted his primary mistake was heavily betting that onchain social platforms (like Farcaster) and creator tokens would drive mainstream crypto adoption. The author harshly criticizes this strategy, giving it a "0/100" score. They argue onchain social offers no superior user experience, and creator tokens, like Jesse's own $JESSE, fail to solve fundamental issues about value and creator adoption, unlike successful memecoins on other chains. The author is more forgiving regarding Base lagging in areas like perpetual DEXs and prediction markets, giving this an "80/100". They note strong competitors like Hyperliquid had unique advantages, and Base has found significant success in other narratives like AI and RWA. The author gives Jesse's overall reflection a "60/100" or passing grade. While Jesse now correctly sees multiple paths to adoption (stablecoins, payments, AI Agents) beyond just social, he, along with other industry leaders like Toly and Vitalik, still underestimates the powerful role of memecoins in driving mainstream awareness and adoption. The critique concludes that leaders often leverage memes for user acquisition but fail to genuinely embrace or thoughtfully develop the space, revealing a retreat from idealism and a disconnect from grassroots, viral growth mechanisms.

marsbit07/17 02:36

A Critical Review of Base Co-founder's "Letter of Self-Criticism"

marsbit07/17 02:36

Base Founder Jesse Rarely Acknowledges Strategic Mistake Publicly, Social Dream Shattered

Base founder Jesse Pollak publicly admitted a strategic misjudgment, acknowledging that Base's two-year bet on social applications as the next driver of crypto adoption was wrong. While the focus on supporting builders proved correct, social products like Farcaster, Zora, creator coins, and miniapps "completely collapsed." Pollak stated that users are not drawn on-chain for social experiences but for trading, payments, yield, and speculation. Pollak is refocusing entirely on Base the blockchain, handing leadership of the Base App back to Coinbase (now led by Cobie). His new goal is to build Base into the "global financial blockchain" with three 2026 pillars: winning in trading (all assets), enabling global stablecoin payments, and supporting AI agents as new economic participants. The article cites the rapid rise of Robinhood Chain as a competitive wake-up call, demonstrating a more direct model of bringing traditional finance users on-chain via tokenized stocks. Base's narrative is shifting from "onchain consumer" to "onchain finance," leveraging its Coinbase-backed strengths in compliance, distribution, and developer ecosystem to compete in areas like stablecoins, prediction markets, perpetual contracts, and AI agent settlement.

marsbit07/16 05:47

Base Founder Jesse Rarely Acknowledges Strategic Mistake Publicly, Social Dream Shattered

marsbit07/16 05:47

Another $75 Million Raised: Why Are Top VCs Betting on FOMO Again?

FOMO, a social crypto trading app, raises $75M in Series B led by Index Ventures, with participation from USV and follow-on from Benchmark. The round values the company at $550M. Launched in beta in mid-2025, FOMO simplifies on-chain trading by eliminating gas fees for users, supporting multiple blockchains (Bitcoin, Ethereum, Solana, Base, BNB Chain), and enabling direct crypto purchases via Apple Pay or debit cards. The app features social functions allowing users to follow traders and view their activity. Key metrics show rapid growth: over 625,000 users, $4B+ in cumulative trading volume, and more than 110M social interactions. Notably, over 68,000 users made their first crypto purchase through FOMO using Apple Pay. The platform recently expanded into perpetual contracts trading for stocks, pre-IPO assets, crypto, indices, and commodities. The founding team, with backgrounds from dYdX, Uniswap, and OpenSea, initially raised a $2M pre-seed round from 140+ angel investors across the crypto ecosystem before securing a $17M Series A from Benchmark in late 2025. FOMO's strategy focuses on removing technical friction to drive mainstream adoption, positioning itself as a potential gateway between crypto and traditional finance.

Foresight News06/23 02:07

Another $75 Million Raised: Why Are Top VCs Betting on FOMO Again?

Foresight News06/23 02:07

Fully Entering the AI Era: Alipay Bets on Conversation, WeChat Holds Fast to Social

In May 2026, Alipay announced over 300 million AI payment transactions. Shortly after, WeChat opened its mini-programs for AI integration, sparking controversy by requiring developer source code access. This highlights their diverging approaches to AI integration. Alipay is testing "Project Treasure," an optional AI-native interface replacing traditional app grids with a conversational window. Users can command complex tasks (e.g., "book a ride and order coffee") handled end-to-end by AI. This shift follows an abandoned standalone AI app, focusing instead on enhancing its existing user base. For unmodified mini-programs, Alipay's AI uses "screen-reading" to simulate user interactions, bypassing the need for developer overhaul. It also introduced "Token Pay" for micro-transactions and "AI Wallets" for autonomous agent spending. WeChat, prioritizing its core social function, is taking an embedded approach. Its AI agent will operate within existing contexts like group chats and official accounts, assisting without a separate interface. To enable this, WeChat offers developers two paths: granting source code access for direct AI control ("Automatic Mode") or manually encapsulating services into standardized "Skills." Both place significant burden on developers. Key differences emerge in handling legacy services: WeChat demands developer cooperation (code or labor), while Alipay's screen-reading offers immediate, if potentially less stable, compatibility. Alipay's 3 billion AI transactions demonstrate user acceptance of AI-driven commercial actions. The divergent strategies may reshape mini-program ecosystems—Alipay passively "AI-fying" services, WeChat potentially favoring resource-rich developers—and set competing technical standards. Ultimately, the competition centers on where users entrust the command to "help me get things done."

marsbit06/15 12:00

Fully Entering the AI Era: Alipay Bets on Conversation, WeChat Holds Fast to Social

marsbit06/15 12:00

Kicked Out of PayPal, Musk Aims for a Comeback in the Crypto Market

Elon Musk's X (formerly Twitter) has launched its "Smart Cashtags" feature, generating approximately $1 billion in trading volume within days of its April 2026 pilot launch. The feature allows users to click on stock or crypto tickers (or even full Solana token contract addresses) in posts to view real-time price charts and discussions without leaving the app. Initially available to iPhone users in the US and Canada, with a partnership in Canada enabling direct trading via the Wealthsimple app. This move is part of Musk's broader "Everything App" vision, spearheaded by the upcoming X Money platform. Analysts, such as Mizuho's Dan Dolev, see this as a potential disruptor to the US payments market, even prompting a downgrade of PayPal's stock. X Money's beta offers services like 6% APY on deposits, cashback, and P2P transfers, with speculation it may later incorporate crypto trading and stablecoin settlements for faster transactions. However, the ambitious plan faces significant regulatory scrutiny. Senator Elizabeth Warren has questioned the sustainability of the high 6% yield and raised concerns over X's banking partner, Cross River Bank, which has a history of regulatory violations. Additional risks involve the "GENIUS Act," which may create loopholes for stablecoin issuance without full FDIC insurance coverage, potentially leaving users unprotected. The integration of social trading on a platform with over 500 million users could inject new liquidity and retail interest into the crypto market. Yet, it also amplifies risks like herd mentality and the blurring of lines between entertainment and financial speculation. Musk's return to finance, after his ouster from PayPal, hinges on balancing innovation with regulatory compliance.

marsbit04/24 09:11

Kicked Out of PayPal, Musk Aims for a Comeback in the Crypto Market

marsbit04/24 09:11

Booking.com Founder Jeff Hoffman: How Web3 and AI Are Reshaping the Trillion-Dollar Social Travel Market

Booking.com co-founder Jeff Hoffman discusses how Web3 and AI are set to reshape the multitrillion-dollar social travel market. Hoffman, who co-founded Priceline and helped build Booking.com into a global giant, emphasizes that the current travel industry remains fragmented and inefficient. He argues that Web3 introduces structural disruption by enabling direct connections, transparent economics, and faster settlements, while AI powers personalization and smarter recommendations. Hoffman highlights key trends driving this shift: travelers demand flexible, authentic rewards instead of expiring points; digital and borderless payments are becoming standard; and people trust communities more than ads. He joined Staynex not for its Web3 label but because it aligns with these trends—integrating booking, rewards, AI, and payments into a seamless ecosystem. Looking ahead, Hoffman predicts travel will evolve from transactional to relational, with blockchain enabling transparent rewards and cross-border payments, and AI delivering hyper-personalized experiences. He believes the most valuable platforms will own the network around payments, loyalty, and community, making social travel one of the most underestimated opportunities in Web3.

marsbit04/22 02:02

Booking.com Founder Jeff Hoffman: How Web3 and AI Are Reshaping the Trillion-Dollar Social Travel Market

marsbit04/22 02:02

Interview with Jeff Hoffman: How Web3 and AI Are Reshaping the Trillion-Dollar Social Travel Market

Interview with Jeff Hoffman: Web3 and AI Reshaping the Trillion-Dollar Social Travel Market Jeff Hoffman, co-founder of Priceline, discusses how Web3 and AI are transforming the social travel industry. He highlights that the current travel market is fragmented and inefficient, dominated by traditional online travel agencies (OTAs) that act as intermediaries with opaque models. Web3 introduces direct connections, transparency, and faster settlements, shifting value back to travelers. Key trends driving this change include demand for flexible rewards, digital payments, and trust in communities over ads. Hoffman joined Staynex not for its Web3 label, but because it addresses industry inefficiencies by integrating booking, payments, AI-driven itineraries, and rewards into a single ecosystem. This Web2.5 model combines Web2 scale with Web3 incentives. He emphasizes the team’s focus on execution over hype as a key reason for his involvement. Looking ahead, blockchain will enable transparent rewards and seamless cross-border payments, while AI provides personalization. Together, they will turn travel into a continuous relationship rather than a transaction. Hoffman predicts traditional OTAs will persist, but value will shift to platforms that own payment, loyalty, and community networks. Social travel represents a significant, underestimated opportunity in Web3.

marsbit04/21 12:11

Interview with Jeff Hoffman: How Web3 and AI Are Reshaping the Trillion-Dollar Social Travel Market

marsbit04/21 12:11

Chainlink sees 480M social engagements: What it means for LINK price next

Chainlink (LINK) is gaining significant attention with a 5.24% price surge to $8.97, supported by 480 million social engagements and an 82% rise in positive sentiment. Key drivers include Grayscale’s LINK ETF (GLINK) attracting $82.79 million in net flows, Bitwise’s CLINK ETF adding $11.82 million, Mastercard integrating Chainlink to connect 3.5 billion cards to DeFi, and Coinbase using Chainlink to publish trading data on-chain. However, on-chain metrics show declining active addresses and open interest, suggesting reduced activity and potential short-term caution despite the bullish news.

ambcrypto04/06 17:05

Chainlink sees 480M social engagements: What it means for LINK price next

ambcrypto04/06 17:05

Musk Poaches the Web3 Prodigy Who Laid the Foundation for the Aave App

Elon Musk has recruited Benji Taylor, a 26-year-old design prodigy and former design lead at Base, to lead design at X (formerly Twitter). Taylor, who began his career at 16 and gained early recognition for his creative work, is known for his groundbreaking contributions to Web3 and consumer app design. He founded Los Feliz Engineering (LFE), where he created Honk—a real-time chat app with no send button or message history—which gained a cult following before shutting down due to product-market fit challenges. Later, he developed Family, a highly praised self-custody crypto wallet often regarded as one of the best-designed in the industry. LFE was acquired by Aave Labs in 2023, and Taylor’s work became foundational to the Aave App’s user experience. His recruitment signals Musk’s continued interest in integrating crypto and payment features into X, leveraging Taylor’s rare expertise in social apps, crypto UX, and minimalist design. Taylor has expressed that his motivation lies in building at scale and reaching billions of users—a goal now within reach at X.

marsbit03/26 10:47

Musk Poaches the Web3 Prodigy Who Laid the Foundation for the Aave App

marsbit03/26 10:47

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